To this concern my lender said I could just seek another 5/20 year balloon either from my current lender or another at the end of this loan period but I still wonder if that is a likely scenario or hopeful thinking not supported by reality.

I've set up a Wyoming LLC that will be THE Member of a California LLC (yet to be set up),The California LLC will have a rental property, with income and expenses like a regular business,OK, so California LLC looks legitimate, but what about the Wyoming LLC that is only a holding company and sole member of theCalifornia LLC, so the Wyoming LLC in reality does no business and is only used for asset protection, Im just wondering if its not doing any actual business isn't there a possibility of being called a shame LLC ? 

The reality is someone with $1m will not ask people on a forum how to get to $5m.  

The reality investing for you locally will be very difficult (not impossible) barrier to entry is high you will need to look UPstate or Out of State..

I think all agents, and I am one, need to be more cognizant of the seller's current reality, where an agent is asking them for 6-7%, then the buyer usually asks for 2-3% in closing assistance, and that's before their own seller fees, depending on area transfer taxes, local attorney's fees, repairs or staging needed to sell, etc. 

Wholesale Deals can be absolutely gravy, Fix & Flipping properties is tried and true and, of course, it seems way cooler on TV than it is in reality, and Multi Family dwellings is the new wave... 

If you try to permit everything you may sink on numbers as inspectors can make you do anything and make it all be subbed out.

Maybe do a survey and make sure that the houses are on their own property, not encroaching on another lot.Make sure the ground water is not so high that it floods the basement, house.Make sure there are not a bunch of termites in the ground, and eaten up wood in the houses.Make sure the soil is not shifting, depending on where the houses are located, think sink hole.Check water pressure.Sooo, many things it could be physically.Then you have to look at the social things like the houses getting broken into every other day, neighbors from the hood, or even a building inspector going through a divorce:)  Or maybe it is just something simple like the buyer could not get financed since the house is a wreck, only certain financing is available.

Its called Think Reality.

Will paint cabinets and trim white and get new sink/countertop.